16,500 Shares in G-III Apparel Group, LTD. $GIII Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in G-III Apparel Group, LTD. (NASDAQ:GIII) during the first quarter, according to its most recent filing with the SEC. The firm bought 16,500 shares of the textile maker’s stock, valued at approximately $457,000.

Several other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in G-III Apparel Group by 149.8% during the first quarter. SG Americas Securities LLC now owns 52,390 shares of the textile maker’s stock valued at $1,451,000 after acquiring an additional 31,420 shares during the period. Evolve Private Wealth LLC increased its stake in shares of G-III Apparel Group by 8.4% in the first quarter. Evolve Private Wealth LLC now owns 22,812 shares of the textile maker’s stock worth $632,000 after purchasing an additional 1,765 shares during the period. Hsbc Holdings PLC increased its stake in shares of G-III Apparel Group by 46.2% in the fourth quarter. Hsbc Holdings PLC now owns 128,096 shares of the textile maker’s stock worth $3,756,000 after purchasing an additional 40,485 shares during the period. Corient Private Wealth LLC acquired a new position in shares of G-III Apparel Group during the 4th quarter worth about $425,000. Finally, DGS Capital Management LLC acquired a new position in shares of G-III Apparel Group during the 4th quarter worth about $202,000. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $33.80 on Thursday. G-III Apparel Group, LTD. has a twelve month low of $22.91 and a twelve month high of $36.53. The stock has a market cap of $1.43 billion, a PE ratio of 11.94 and a beta of 1.28. The firm has a 50-day simple moving average of $32.47 and a 200 day simple moving average of $30.52.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.09. The firm had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. Research analysts forecast that G-III Apparel Group, LTD. will post 2.24 earnings per share for the current fiscal year.

G-III Apparel Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 22nd were given a dividend of $0.10 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. G-III Apparel Group’s payout ratio is currently 14.13%.

Analysts Set New Price Targets

A number of research firms have issued reports on GIII. Wall Street Zen raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. BTIG Research upped their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Zacks Research raised G-III Apparel Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Finally, UBS Group lowered their price objective on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

G-III Apparel Group Profile

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.